Rate 7.78% = 7.03% Freddie Mac 30-yr avg (Sep 24) + 0.75% investor premium

210 Cornett Dr

Ellijay, GA 30540

$549,900

5 bd · 3 ba · 2,600 sqft · Listed 9d ago

View on Realtor.com →

Low confidenceNegative cash flow

Year built

1997

Sqft

2,600

Lot sqft

214,751

HOA / mo

None

Furnished

List date

2026-09-18T18:56:51.000000Z

Revenue

Annual revenue

$45,035

ADR

$281

Occupancy

44%

Cleaning fees (12 mo)

$7,457

Confidence

Low (39.25), 20 comps

Comp revenue range (p25 / median / p75)

$25,519$33,527$67,310

Modern, spacious,4 bedroom retreat-Sleeps up to 14
Condominium (condo) · 4 bd · 2 ba · sleeps 14 · 0.4 mi
Revenue $24,499ADR $311Occ ≈ 22%4.9★ (35)
Airbnb
4 bedroom Loft Apartment in Ellijay for up to 20
Guest house · 4 bd · 3 ba · sleeps 16 · 0.5 mi
Revenue $33,469ADR $213Occ ≈ 43%4.8★ (106)
Airbnb Vrbo
Cozy 'Sunset View' Cabin w/ Game Room & Mtn Views!
Cabin · 4 bd · 3 ba · sleeps 8 · 1.2 mi
Revenue $24,315ADR $271Occ ≈ 25%4.7★ (45)
Airbnb Vrbo Booking
Cozy 'Sunset View' Cabin w/ Game Room & Mtn Views!
Cabin · 4 bd · 3 ba · sleeps 8 · 1.2 mi
Revenue $26,609ADR $273Occ ≈ 27%4.6★ (33)
Vrbo
Roman’s Ridge - View, sauna, hot tub, game rooms
Cabin · 4 bd · 3 ba · sleeps 10 · 1.3 mi
Revenue $26,836ADR $368Occ ≈ 20%5★ (6)
Airbnb Vrbo
2 King Suites*Gameroom *5 mins to Town*Porch Swing
House · 4 bd · 3 ba · sleeps 8 · 1.6 mi
Revenue $33,585ADR $193Occ ≈ 48%5★ (121)
Airbnb Vrbo
Sunrise Ridge | North Georgia Mountain View
Cabin · 4 bd · 3 ba · sleeps 10 · 1.7 mi
Revenue $25,848ADR $308Occ ≈ 23%4.7★ (38)
Airbnb Vrbo
Life on the River at the Cabin
Cabin · 4 bd · 2 ba · sleeps 8 · 1.8 mi
Revenue $52,221ADR $280Occ ≈ 51%4.9★ (91)
Airbnb Vrbo
Family FUN-Mini golf-Playset-Outdoor Movie-Hot tub
Cabin · 4 bd · 3 ba · sleeps 10 · 1.9 mi
Revenue $92,702ADR $331Occ ≈ 77%5★ (177)
Airbnb Vrbo
Lakeview Lodge
Cabin · 4 bd · 3 ba · sleeps 6 · 2.0 mi
Revenue $21,784ADR $197Occ ≈ 30%4.5★ (62)
Airbnb Vrbo

Listing	Size	Revenue (12 mo)	ADR	Occ ≈	Rating	Distance	Links
Modern, spacious,4 bedroom retreat-Sleeps up to 14 Condominium (condo)	4 bd · 2 ba · sleeps 14	$24,499	$311	22%	4.9★ (35)	0.4 mi	Airbnb
4 bedroom Loft Apartment in Ellijay for up to 20 Guest house	4 bd · 3 ba · sleeps 16	$33,469	$213	43%	4.8★ (106)	0.5 mi	Airbnb Vrbo
Cozy 'Sunset View' Cabin w/ Game Room & Mtn Views! Cabin	4 bd · 3 ba · sleeps 8	$24,315	$271	25%	4.7★ (45)	1.2 mi	Airbnb Vrbo Booking
Cozy 'Sunset View' Cabin w/ Game Room & Mtn Views! Cabin	4 bd · 3 ba · sleeps 8	$26,609	$273	27%	4.6★ (33)	1.2 mi	Vrbo
Roman’s Ridge - View, sauna, hot tub, game rooms Cabin	4 bd · 3 ba · sleeps 10	$26,836	$368	20%	5★ (6)	1.3 mi	Airbnb Vrbo
2 King SuitesGameroom 5 mins to Town*Porch Swing House	4 bd · 3 ba · sleeps 8	$33,585	$193	48%	5★ (121)	1.6 mi	Airbnb Vrbo
Sunrise Ridge \| North Georgia Mountain View Cabin	4 bd · 3 ba · sleeps 10	$25,848	$308	23%	4.7★ (38)	1.7 mi	Airbnb Vrbo
Life on the River at the Cabin Cabin	4 bd · 2 ba · sleeps 8	$52,221	$280	51%	4.9★ (91)	1.8 mi	Airbnb Vrbo
Family FUN-Mini golf-Playset-Outdoor Movie-Hot tub Cabin	4 bd · 3 ba · sleeps 10	$92,702	$331	77%	5★ (177)	1.9 mi	Airbnb Vrbo
Lakeview Lodge Cabin	4 bd · 3 ba · sleeps 6	$21,784	$197	30%	4.5★ (62)	2.0 mi	Airbnb Vrbo

Show all 20 comps

*NEW*Deer Hart•Family•Game Room•Wineries •Hiking
House · 4 bd · 3 ba · sleeps 14 · 2.1 mi
Revenue $59,031ADR $351Occ ≈ 46%5★ (19)
Airbnb Vrbo
Highland Harmony
Vacation home · 4 bd · 3 ba · sleeps 8 · 2.1 mi
Revenue $24,533ADR $306Occ ≈ 22%—
Booking
Luxury Riverfront Cabin-HotTub•Sauna•Firepit•Games
Cabin · 4 bd · 3 ba · sleeps 8 · 2.1 mi
Revenue $97,364ADR $452Occ ≈ 59%5★ (60)
Airbnb Vrbo
Crescent Moon on the River
Vacation home · 4 bd · 3 ba · sleeps 10 · 2.1 mi
Revenue $66,020ADR $515Occ ≈ 35%—
Booking
Gorgeous country lodge w/ mountain views, hot tub
Cabin · 4 bd · 4 ba · sleeps 10 · 2.2 mi
Revenue $1,516ADR $566Occ ≈ 1%5★ (4)
Airbnb Booking
Birchwood Lodge
House · 4 bd · 4 ba · sleeps 10 · 2.2 mi
Revenue $76,870ADR $351Occ ≈ 60%5★ (21)
Airbnb Vrbo
Rich Mountain Chateau - Ellijay GA
Cabin · 4 bd · 4 ba · sleeps 10 · 2.2 mi
Revenue $98,533ADR $513Occ ≈ 53%4.7★ (6)
Airbnb Vrbo Booking
Hearthfire Home - stay right on the creek!
Cabin · 5 bd · 3 ba · sleeps 11 · 2.2 mi
Revenue $71,178ADR $375Occ ≈ 52%5★ (59)
Airbnb Vrbo
Hideaway Creek - Next to Roo Vineyard, Creek, Hot Tub, Fire Pit, Dog Friendly
Cabin · 4 bd · 3 ba · sleeps 8 · 2.2 mi
Revenue $32,988ADR $280Occ ≈ 32%4.9★ (19)
Vrbo
2-Level Deck - Stunning Views - Hot Tub - Fire Pit
House · 4 bd · 4 ba · sleeps 10 · 2.3 mi
Revenue $45,878ADR $433Occ ≈ 29%4.8★ (16)
Airbnb Vrbo Booking

Listing	Size	Revenue (12 mo)	ADR	Occ ≈	Rating	Distance	Links
NEWDeer Hart•Family•Game Room•Wineries •Hiking House	4 bd · 3 ba · sleeps 14	$59,031	$351	46%	5★ (19)	2.1 mi	Airbnb Vrbo
Highland Harmony Vacation home	4 bd · 3 ba · sleeps 8	$24,533	$306	22%	—	2.1 mi	Booking
Luxury Riverfront Cabin-HotTub•Sauna•Firepit•Games Cabin	4 bd · 3 ba · sleeps 8	$97,364	$452	59%	5★ (60)	2.1 mi	Airbnb Vrbo
Crescent Moon on the River Vacation home	4 bd · 3 ba · sleeps 10	$66,020	$515	35%	—	2.1 mi	Booking
Gorgeous country lodge w/ mountain views, hot tub Cabin	4 bd · 4 ba · sleeps 10	$1,516	$566	1%	5★ (4)	2.2 mi	Airbnb Booking
Birchwood Lodge House	4 bd · 4 ba · sleeps 10	$76,870	$351	60%	5★ (21)	2.2 mi	Airbnb Vrbo
Rich Mountain Chateau - Ellijay GA Cabin	4 bd · 4 ba · sleeps 10	$98,533	$513	53%	4.7★ (6)	2.2 mi	Airbnb Vrbo Booking
Hearthfire Home - stay right on the creek! Cabin	5 bd · 3 ba · sleeps 11	$71,178	$375	52%	5★ (59)	2.2 mi	Airbnb Vrbo
Hideaway Creek - Next to Roo Vineyard, Creek, Hot Tub, Fire Pit, Dog Friendly Cabin	4 bd · 3 ba · sleeps 8	$32,988	$280	32%	4.9★ (19)	2.2 mi	Vrbo
2-Level Deck - Stunning Views - Hot Tub - Fire Pit House	4 bd · 4 ba · sleeps 10	$45,878	$433	29%	4.8★ (16)	2.3 mi	Airbnb Vrbo Booking

Revenue and nightly rate (ADR) are trailing-12-month figures per listing. Occupancy is estimated as revenue ÷ ADR ÷ 365 and can read high when revenue includes cleaning fees.

Cash flow calculator

Financing

Term

Purchase priceDown payment %30-yr rate %Already furnishedTax bracket

Rate 7.78% = 7.03% Freddie Mac 30-yr avg (Sep 24) + 0.75% investor premium

Est. revenue

$45,035

NOI

$21,666

Cash flow /mo

-$1,158

Cash needed

$185,971

Cash-on-cash

-7.5%

ROE (yr 1)

3.3%

Cap rate

3.9%

DSCR

0.61

Year-1 write-off

$139,430

Year-1 tax shield @ 32%

$44,618

Year-1 return on equity

Cash flow (annual)-$13,892
Principal paydown$3,598
Appreciation at%$16,497

ROE3.3%

ROE incl. year-1 tax savings (32% bracket, STR loophole)27.3%

Opex, cash-needed & tax-savings breakdown

Annual operating expenses

Management (20% of revenue)$9,007
Platform fees (3% of revenue)$1,351
Maintenance / capex (5% of revenue)$2,252
Utilities & supplies$4,200
HOA$0
Property tax$620
Insurance (STR-rated)$5,939

Cash needed to close

Down payment (25%)$137,475
Closing costs (4.0%)$21,996
Furnishing (bought new)$26,500

Tax savings if the STR loophole applies

Tax shield @ 32%$44,618

Property tax, insurance rate and the land/building split come from this listing's county tax record; other assumptions match the daily feed (see tasks/plan.md).

The write-off comes from the cost segregation estimate below. Not tax advice.

Cost segregation estimate

An estimate from the listing: every part of the home is priced from national construction costs, less wear for age, and the price (less land) is spread over the parts in proportion. The headline is what a typical cost seg study would claim for this property. The answers below are optional refinements.

Depreciable basis

$518,000

Short-life (5/15-yr)

$112,000 · 22%

Year-1 deduction

$139,000

Year-1 tax shield @ 32%

$45,000

Land 6% (county tax record, market value split) · building $406,000 over 39 years · new furniture $27,000

Based on: 2,600 sq ft, built 1997, 5 bd / 3 ba, unfurnished, listing features (deck, fence, fireplace, flooring types, appliance list, septic).

IRS-guide safe-harbor floor: $86,000 in year 1 (11% short-life, $27,000 tax shield), the conservative amount following the IRS audit guide's residential classification table.

5-year property$77,000

Kitchen cabinetsdefault
$11,500 new × 40% good × 2.09 allocation
$9,600
Kitchen countertopsdefault
$9,400 new × 40% good × 2.09 allocation
$7,900
Decorative trimdefault
$4,600 new × 40% good × 2.09 allocation
$3,800
Mirrorsdefault
$500 new × 40% good × 2.09 allocation
$400
Shelvingdefault
$1,800 new × 40% good × 2.09 allocation
$1,500
Window coverings (26)default
$6,500 new × 40% good × 2.09 allocation
$5,400
Carpet, vinyl & laminate (25% of floors)listing
$4,200 new × 40% good × 2.09 allocation
$3,500
Kitchen & laundry equipment plumbingdefault
$8,900 new × 42% good × 2.09 allocation
$7,800
Kitchen, laundry & data equipment electricaldefault
$5,400 new × 42% good × 2.09 allocation
$4,700
Appliances (range, dishwasher, refrigerator, washer, dryer)listing
$7,000 new × 40% good × 2.09 allocation
$5,800
Furniture bought newlisting
$26,500 new × 100% good · bought separately
$26,500

15-year land improvements$61,100

Paving: driveway & walks (paved)default
$10,600 new × 50% good × 2.09 allocation
$11,000
Landscaping (typical)default
$10,200 new × 50% good × 2.09 allocation
$10,600
Patiosdefault
$2,600 new × 50% good × 2.09 allocation
$2,700
Decks & porches (attached)listing
$29,300 new × 50% good × 2.09 allocation
$30,500
Fencinglisting
$6,000 new × 50% good × 2.09 allocation
$6,300

Building, 39-year$405,900

Structure: foundation, framing, walls, windows, doors, roof, interior finishesdefault
$281,800 new × 52% good × 2.09 allocation
$304,000
Building plumbing & fixturesdefault
$29,300 new × 42% good × 2.09 allocation
$25,700
Building electrical & lightingdefault
$30,200 new × 42% good × 2.09 allocation
$26,500
HVACdefault
$29,300 new × 40% good × 2.09 allocation
$24,500
Hardwood & tile floorsdefault
$12,500 new × 40% good × 2.09 allocation
$10,500
Fireplacelisting
$2,600 new × 40% good × 2.09 allocation
$2,200
Septic systemlisting
$12,000 new × 50% good × 2.09 allocation
$12,500

About the property

Sold furnishedGame roomHot tubPoolDeckDrivewayLandscapingFencedIrrigationLong-term rental (27.5-yr)Carpet / vinyl / laminate %Placed in serviceClosing costs $ (adds to basis)Land %Bonus depreciation %

Depreciation schedule: typical cost seg study

Year	5-yr	15-yr	Building	Total
1	$77,000	$61,100	$1,300	$139,400
2	$0	$0	$10,400	$10,400
3	$0	$0	$10,400	$10,400
4	$0	$0	$10,400	$10,400
5	$0	$0	$10,400	$10,400
6+	$0	$0	$363,000	$363,000
Total	$77,000	$61,100	$405,900	$544,000

Model-based estimate, not an engineered cost segregation study. The IRS doesn’t approve studies; get a professional study before filing. Using these losses against W-2 income needs the short-term rental exception (average stay ≤7 days + material participation). The 39-year building life applies because stays average under 30 days, a separate test (27.5 years for a long-term rental). Federal only: Georgia disallows bonus depreciation, Ohio adds back 5/6 of it, and Tennessee has no personal income tax. Not tax advice.

Market note

Fannin and Gilmer counties require STR registration and lodging tax; no cap found. Blue Ridge and Ellijay city limits have their own rules; most cabins are in unincorporated county.